New changes are coming into play with levy transfer funds and non-levy co-investments from the 1st April, read more to find out what they are…

 

Apprenticeship Wage increase:

The National Apprenticeship wage is rising from £3.70 to £3.90 per hour, as well this, the National Minimum Wage and The National Living Wage for workers over 25 is also rising. To check out a list of all these new rates from April 2019 please click here.

 

Levy-paying employers to be able to transfer up to 25% of their funds:

The government will make up to £450 million available to enable levy paying employers to transfer up to 25% of their funds to pay for Apprenticeship Training in their supply chains.

 

Non-Levy reduced co-investment:
Employers who do not pay the levy or who want to invest more in apprenticeship training that is available in their digital account, need to make a financial contribution, a ‘co-investment,’ towards the cost of training and assessment of apprentices, with government funding the remainder. From April 1st small and medium-sized employers will see the
Co-investment rate they pay cut by half. Government funding will cover 95% of the maximum funding band rate for all new apprenticeship starts. Employers will pay the remaining 5% co-investment payment direct to the training provider.

For more information please contact a member of our Business Development Team